Theory tells us that output, the capital stock and the user cost of capital are related. From the capital accumulation identity, it also follows that the capital stock and investment have a long-run proportional relationship. The dynamic structure thus implies a multi-cointegrating framework, in...

Each month, the Bank's twelve Agents make quantitative assessments of economic conditions as seen from their respective countries and regions. These scores provide numerical measures of the intelligence that the Agents gather from month to month, and cover some areas of the economy where there...

Over the past five and a half years, NOP has carried out surveys of public attitudes to inflation on behalf of the Bank of England. As part of an annual series, this article analyzes the results of the surveys from May 2004 to February 2005. Public opinion on most issues has changed little over...

The Bank's Monetary Policy Committee analyzes a wide variety of data to inform its monetary policy decisions. Some of these data are revised over time, and taking account of possible revisions is an important part of assessing any data release. This article discusses the construction of a...

Business surveys provide more timely news about investment than official data. The surveys also include forward-looking information. This article examines some survey-based indicators of business investment. Using simple techniques, several indicators are found to contain information about the...

This article discusses the measurement of capacity pressures within businesses a key influence on the outlook for inflation. The degree of pressure on capacity relative to normal is likely to affect businesses' costs and prices. A variety of different methods are presented, each with their own...